DBS Group Holdings reported a record full-year 2024 net profit of SGD 11.4 billion, equivalent to approximately USD 8.4 billion, an 11% increase on the prior year and the highest annual profit in the Singapore-based bank's history. Total income for the year rose 10% to SGD 22.3 billion.
FEE INCOME
Fee income crossed the SGD 4 billion mark for the first time in DBS's history.
Return on equity for the full year was 18.0%.
DIVIDEND RAISED AND QUARTERLY CAPITAL RETURNS INTRODUCED
The board recommended a final dividend of 60 cents per share, bringing total dividends for the 2024 financial year to SGD 2.22 per share, 27% higher than the previous year.
In addition to the higher ordinary dividend, DBS announced a new capital return dividend of 15 cents per share to be paid each quarter in 2025, on top of the quarterly ordinary dividends it already pays.